Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-312023-01-01falseFinancial Management11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09052087 2023-01-01 2023-12-31 09052087 2022-01-01 2022-12-31 09052087 2023-12-31 09052087 2022-12-31 09052087 c:Director1 2023-01-01 2023-12-31 09052087 d:Goodwill 2023-01-01 2023-12-31 09052087 d:Goodwill 2023-12-31 09052087 d:Goodwill 2022-12-31 09052087 d:FreeholdInvestmentProperty 2023-12-31 09052087 d:FreeholdInvestmentProperty 2022-12-31 09052087 d:CurrentFinancialInstruments 2023-12-31 09052087 d:CurrentFinancialInstruments 2022-12-31 09052087 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09052087 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09052087 d:ShareCapital 2023-12-31 09052087 d:ShareCapital 2022-12-31 09052087 d:CapitalRedemptionReserve 2023-01-01 2023-12-31 09052087 d:CapitalRedemptionReserve 2023-12-31 09052087 d:CapitalRedemptionReserve 2022-12-31 09052087 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09052087 d:RetainedEarningsAccumulatedLosses 2023-12-31 09052087 d:RetainedEarningsAccumulatedLosses 2022-12-31 09052087 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09052087 c:OrdinaryShareClass1 2023-12-31 09052087 c:OrdinaryShareClass1 2022-12-31 09052087 c:OrdinaryShareClass2 2023-01-01 2023-12-31 09052087 c:OrdinaryShareClass2 2023-12-31 09052087 c:OrdinaryShareClass2 2022-12-31 09052087 c:FRS102 2023-01-01 2023-12-31 09052087 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09052087 c:FullAccounts 2023-01-01 2023-12-31 09052087 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09052087 6 2023-01-01 2023-12-31 09052087 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09052087










STERLING (ABERYSTWYTH) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
STERLING (ABERYSTWYTH) LIMITED
REGISTERED NUMBER:09052087

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
14,167
34,167

Investments
 6 
2,000
2,000

Investment property
  
217,262
217,262

  
233,429
253,429

Current assets
  

Cash at bank and in hand
 8 
7,212
7,966

  
7,212
7,966

Creditors: amounts falling due within one year
 9 
(67,127)
(104,947)

Net current liabilities
  
 
 
(59,915)
 
 
(96,981)

Total assets less current liabilities
  
173,514
156,448

  

Net assets
  
173,514
156,448


Capital and reserves
  

Called up share capital 
 10 
1,000
1,000

Capital redemption reserve
 11 
1,000
1,000

Profit and loss account
 11 
171,514
154,448

  
173,514
156,448


Page 1

 
STERLING (ABERYSTWYTH) LIMITED
REGISTERED NUMBER:09052087
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 March 2024.




R J Mills
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
STERLING (ABERYSTWYTH) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Sterling (Aberystwyth) Limited, 09052087, is a private Company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Sterling House, 13 Eastgate, Aberystwyth, Ceredigion, SY23 2AR.
The principal activity of the company continues to be that of a holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
STERLING (ABERYSTWYTH) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the Director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
STERLING (ABERYSTWYTH) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the director there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
STERLING (ABERYSTWYTH) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
200,000



At 31 December 2023

200,000



Amortisation


At 1 January 2023
165,833


Charge for the year on owned assets
20,000



At 31 December 2023

185,833



Net book value



At 31 December 2023
14,167



At 31 December 2022
34,167




6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
2,000



At 31 December 2023
2,000




Page 6

 
STERLING (ABERYSTWYTH) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
217,262



At 31 December 2023
217,262

The 2023 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
217,262
217,262

217,262
217,262


8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
7,212
7,967

7,212
7,967



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
64,336
103,389

Other taxation and social security
1,657
502

Accruals and deferred income
1,134
1,056

67,127
104,947


Page 7

 
STERLING (ABERYSTWYTH) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



876 (2022 - 876) Ordinary shares of £1.00 each
876
876
124 (2022 - 124) Ordinary A shares of £1.00 each
124
124

1,000

1,000



11.


Reserves

Capital redemption reserve

The capital redemption reserves represents the share capital redeemed by the Company since incorporation.

Profit and loss account

The profit and loss account represents the accumulate profits of the Company since incorporation less distributions made to shareholders.

 
Page 8